Trex Company, Inc. recently announced financial results for the fourth quarter, which ended Dec. 31.
The company's net sales for the fourth quarter of 2012 totaled $46.2 million, compared to net sales of $51.5 million for the same period in 2011. Trex reported a net loss of $3.6 million, or $0.22 per diluted share, for the 2012 quarter, compared to a net loss of $18.3 million for the prior-year period.
During the fourth quarter 2012, the company recognized a $1.5 million provision for costs related to the mold class action. Before giving effect to that charge, the 2012 net loss was $2.1 million, or $0.13 per diluted share.
For the full year ended Dec. 31, Trex Company reported net sales of $307.4 million, an increase from the $266.8 million in net sales for 2011. The company also reported a net income of $2.7 million ($0.16 per share) in the full year 2012 after seeing a net loss of $11.6 million the year before.